Sensex bounces 130 pts, banking shares jump
The benchmark Sensex surged over 130
points in the opening session today, shaking off its earlier
weakness, as oil and banking shares took spotlight.
The broader NSE Nifty regained the 9,900-mark.
Expectations built up that today's meeting of the GST
Council may provide some relief to exporters and SMEs in terms
of faster refunds and compliance.
The 30-share index rebounded by 130.10 points, or 0.41
per cent, to 31,722.13. The gauge had lost 79.68 points in the
previous session after investors shaved off profit.
Reflecting the widespread recovery, all the sectoral
indices led by consumer durables, metal and oil and gas were
trading in the green, adding up to 1.01 per cent.
The NSE Nifty also moved up by 40.80 points, or 0.41 per
cent, to quote at 9,929.50.
Traders said gains at most Asian markets tracking
rallies on Wall Street following more buoyant US data and
hopes of tax reforms bolstered trading sentiment here.
Big gainers in the Sensex kitty included ONGC, Tata
Steel, Adani Ports, NTPC and SBI, rising up to 1.55 per cent.
Elsewhere in Asia, Hong Kong's Hang Seng rose 0.36 per
cent and Japan's Nikkei was up 0.25 per cent in early deals.
Financial markets in China are closed for a week-long holiday.
US Dow Jones Industrial Average rose 0.50 per cent to
close at another record high yesterday.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.